On Jan. 1, 2021, Manama Company purchased an equipment at a price of $100,000 and paid tax of 10% of this price. Manama Company paid $2,500 for power connections and $6,000 to assemble the equipment. During installing the equipment, a small damage occurred and repaired for a cost of $500. The equipment's cost is: OA.$ 100,000 OB. $ 119,000 OC$ 118,500 OD.$ 109,000

On Jan. 1, 2021, Manama Company purchased an equipment at a price of $100,000 and paid tax of 10% of this price. Manama Company paid $2,500 for power connections and $6,000 to assemble the equipment. During installing the equipment, a small damage occurred and repaired for a cost of $500. The equipment's cost is: OA.$ 100,000 OB. $ 119,000 OC$ 118,500 OD.$ 109,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 5MC: Ngo Company purchased a truck for $54,000. Sales tax amounted to $5,400; shipping costs amounted to...

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